Well then I wish you the best of luck in your bet. I've done some math, and it turns out GIPPT is worth over 1.2 BTC. A little birdie told me you were selling pre-ipo shares for less than that, so I bet I'll be buying a few at IPO.

Cheers

I was indeed selling 1000 shares at 1.02 BTC each, but they are all out now Though the rest of the shares will be offered on Friday.Anyone interested please do place bids on the shares.//DeaDTerra

The IPO price will be set by the market, but if I notice there's not enough demand then I will wait with releasing all the shares, I don't wish to create a massive bid wall or to crash the market. //DeaDTerra

I'm up for bidding on some of these, but I still want details on the insurance arrangements - what's in place now?

Right now me and INAU has the agreement that I will insure 5% of the face value of the bonds and INAU will insure the other 95%. These 95% will be placed with Imsaguy (as it looks right now), which will agree to hold them as a escrow. In case where Pirate defaults then agreed amount is transfered to me, that then buys back all the bonds at 1 BTC each I will write a exact contract and make all three parties sign it.//DeaDTerra

If there are enough bids, what's the minimum price the shares will be sold into? 1.00? 1.02? Something else entirely?Thanks for the information

The Initial Share price will be 1 BTC per bond

or are you asking something else?

Oh, yeah, sorry I missed the part where it said they would be sold for 1 BTC each. Found it now though I knew the face-value would be 1 BTC each, but wasn't sure for how much they were going to get sold.All good now, thanks

I'm up for bidding on some of these, but I still want details on the insurance arrangements - what's in place now?

Right now me and INAU has the agreement that I will insure 5% of the face value of the bonds and INAU will insure the other 95%. These 95% will be placed with Imsaguy (as it looks right now), which will agree to hold them as a escrow. In case where Pirate defaults then agreed amount is transfered to me, that then buys back all the bonds at 1 BTC each I will write a exact contract and make all three parties sign it.//DeaDTerra

Will the funds placed in escrow be in an address that will be made publicly available? If not, buyers would be right to assume that the insurance funds will be invested elsewhere. Not that it's a bad thing, but there's always a chance of default, even from more conservative investments (such as mining). The ultimate insured PPT would be where the insurance fund sitting in cold storage away from everything else, including GLBSE.

Could you please ask INeededAUserName to confirm in this thread that he insures 95% of the face-value of all bonds? It's not that I don't trust you, it's just better to have this written down somewhere. Thank you very much

I'm up for bidding on some of these, but I still want details on the insurance arrangements - what's in place now?

Right now me and INAU has the agreement that I will insure 5% of the face value of the bonds and INAU will insure the other 95%. These 95% will be placed with Imsaguy (as it looks right now), which will agree to hold them as a escrow. In case where Pirate defaults then agreed amount is transfered to me, that then buys back all the bonds at 1 BTC each I will write a exact contract and make all three parties sign it.//DeaDTerra

Will the funds placed in escrow be in an address that will be made publicly available? If not, buyers would be right to assume that the insurance funds will be invested elsewhere. Not that it's a bad thing, but there's always a chance of default, even from more conservative investments (such as mining). The ultimate insured PPT would be where the insurance fund sitting in cold storage away from everything else, including GLBSE.

No this will not be the case please read the google document provided for details Imsaguy, will hold INeedAuserNames backings, and in the case where pirate defaults he will transfer them to me .They will be making interest rate and there's of course a chance of a default, in this case the debt for the insurance still lies with INeedAUserName.If both ImsaGuy and INeedAUserName defaults then, I will pay out my 5% and we will shut down (this is a VERY unlikely scenario, I highly doubt this will happen. It would take a three fold default for this scenario to happen)

Imsaguy makes his profits mostly from mining, which is why we chose him

Indeed that would be optimal for the purchaser of the bond but unfortunately not for the issuer. Hence we have chosen something inbetween, it's not high risk or connected to pirate but it still makes a nice interest rate //DeaDTerra

No this will not be the case please read the google document provided for details Imsaguy, will hold INeedAuserNames backings, and in the case where pirate defaults he will transfer them to me .They will be making interest rate and there's of course a chance of a default, in this case the debt for the insurance still lies with INeedAUserName.If both ImsaGuy and INeedAUserName defaults then, I will pay out my 5% and we will shut down (this is a VERY unlikely scenario, I highly doubt this will happen. It would take a three fold default for this scenario to happen)

Imsaguy makes his profits mostly from mining, which is why we chose him

I'd just like to confirm this. Tonight, INAU and I executed a GPG contract that effectively bought out all EIEIO.A holdings. Those coins can be recalled from EIEIO on a two week notice. It gives me latitude to interact directly with DeaDTerra should INAU go missing in action.

No this will not be the case please read the google document provided for details Imsaguy, will hold INeedAuserNames backings, and in the case where pirate defaults he will transfer them to me .They will be making interest rate and there's of course a chance of a default, in this case the debt for the insurance still lies with INeedAUserName.If both ImsaGuy and INeedAUserName defaults then, I will pay out my 5% and we will shut down (this is a VERY unlikely scenario, I highly doubt this will happen. It would take a three fold default for this scenario to happen)

Imsaguy makes his profits mostly from mining, which is why we chose him

I'd just like to confirm this. Tonight, INAU and I executed a GPG contract that effectively bought out all EIEIO.A holdings. Those coins can be recalled from EIEIO on a two week notice. It gives me latitude to interact directly with DeaDTerra should INAU go missing in action.

Thank you for the confirmation Now I just need INAU to get his ass onto the forums and confirm the third part xD//DeaDTerra